Trump has imposed tariffs against the entire world except Russia. What the media is writing
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- Trump has imposed tariffs against the entire world except Russia. What the media is writing
US President Donald Trump has announced the introduction of large-scale tariffs for almost all countries of the world. They will enter into full force on April 9th. One of the few exceptions was Russia. Analysts expect pressure on the global economy, and the leaders of the US trading partners are ready to start negotiations with Trump on the abolition of duties. What the world's media write is in the Izvestia digest.
Bloomberg: Trump has imposed global tariffs on trading partners
At a ceremony at the White House, Trump announced reciprocal tariffs on imports from U.S. trading partners around the world. The United States will impose a minimum tariff of 10% on all trading partners and even higher rates for about 60 countries with large trade surpluses with the United States. For example, the reciprocal rate on imports from China will be 34%, from the European Union — 20%, and from Vietnam — 46%. The 10% tariff type for everyone entered into force on April 5, the second stage — on April 9.
Bloomberg
The rates that countries face are individualized based on the U.S. government's assessment of fees and non-tariff barriers that these countries impose on American goods. According to Trump's plan, countries will be subject to a levy equal to half of this estimated cost. "Mutual, it means they're doing it to us, we're doing it to them," he said during the announcement. — It's very simple. It couldn't be simpler."
Mutual tariffs will be applied to all goods coming from a certain country at a single rate. Steel, aluminum, and cars already subject to Trump's tariffs will not be subject to the new tariffs. Copper, pharmaceuticals, semiconductors and timber products will also be exempt from tariffs. Trump and his advisers argue that imposing tariffs will encourage foreign manufacturers to build businesses in the United States and hire American workers.
Reuters: Trump's tariffs increase pressure on the global economy
Another round of US trade duties will further undermine the development of the global economy, which has barely recovered from a surge in inflation after the coronavirus pandemic, burdened by record debt and worried about geopolitical strife. Depending on how Trump and other leaders behave next, this could be a turning point for a globalized system that has so far relied on America's strength and reliability.
Reuters
"Trump's tariffs carry the risk of destroying the global free trade order that the United States has initiated itself since World War II," said Takahide Kiuchi, chief economist at the Nomura Research Institute. However, in the coming months, the obvious and simple effect of higher prices (and therefore lower demand) will prevail as a result of the imposition of new duties on thousands of goods bought and sold by consumers and businesses around the world.
The impact on national economies will vary significantly, given the range of tariffs from 10% for the UK to 49% for Cambodia. If the result is a larger-scale trade war, it will have even more serious consequences for manufacturers such as China, who will have to look for new markets in the face of weak domestic consumption. If tariffs push the United States into recession, it will seriously affect developing countries, whose fate is closely linked to the fate of the world's largest economy.
Associated Press: World leaders set for tariff talks
Trump's announcement of a new 20 percent tariff for the European Union drew sharp criticism from European Commission President Ursula von der Leyen, who said it was a "serious blow to the global economy." She acknowledged that the global trading system has "serious flaws" and said that the EU is ready to negotiate with the United States, but is also ready to respond with countermeasures.
Associated Press
British Prime Minister Keir Starmer said the British government would respond "coolly and calmly." "It's obvious that there will be economic consequences," he said, telling business leaders in London that he hoped to achieve the abolition of duties through a trade agreement with Washington. "No one is going to win a trade war, it's not in our national interest," Starmer said.
Japan plans to carefully analyze the US duties and their impact, Chief Cabinet Secretary Yoshimasa Hayashi said, refraining from talking about retaliatory measures. He added that these steps will have a big impact on relations with the United States. The Chinese Ministry of Commerce said Beijing would "resolutely take countermeasures to protect its rights and interests," without specifying what exactly it could do.
The New York Times: The Senate approved the abolition of some duties for Canada
The US Senate has approved a measure that will block some of the duties imposed by Trump on Canada. Several Republicans joined Democrats to pass a resolution that would suspend the duties, which take effect this week. The measure is almost certain to stall in the House of Representatives, where GOP leaders have taken proactive action to thwart any attempts to repeal Trump's tariffs.
The New York Times
But the Senate's passage of the measure by a 51 to 48 vote — just hours after Trump unveiled sweeping tariffs on more than 100 trading partners, including the European Union, China, Britain, and India — served as a signal of bipartisan congressional opposition to the president's trade war.
The resolution is directed against the extraordinary powers that Trump used in February to impose large-scale duties on Canada. The move shocked markets and drew bipartisan criticism from lawmakers concerned about the economic impact on their states and counties. The White House argued that uncontrolled drug trafficking from Canada poses a serious threat to America's national security, and used this as an excuse to unilaterally impose 25 percent tariffs on America's closest trading partner.
Axios: Trump's tariffs did not affect Russia
Trump announced the imposition of duties of at least 10% for almost the entire world. The only notable exception was Russia. White House spokeswoman Caroline Leavitt said Russia was not included in the tariffs because U.S. sanctions already "exclude any meaningful trade." However, the United States still trades more with Russia than with countries like Mauritius or Brunei, which are on the tariff list.
Axios
Even such remote island territories as Tokelau (population 1,500) in the South Pacific and Svalbard (population 2,500) Beyond the Arctic Circle, the territories of New Zealand and Norway, respectively, were included in the list for the introduction of tariffs. However, Leavitt noted that Cuba, Belarus and North Korea were also not included, as the existing duties and sanctions against them are already too high.
The volume of trade between the United States and Russia has plummeted from about $35 billion in 2021 to $3.5 billion last year due to sanctions. Moscow has asked Trump to lift some of these sanctions as part of the U.S.-brokered cease-fire talks in Ukraine. Leavitt noted that Russia could still face "additional tough sanctions."
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